Japanese Yen: Choppy trade inside defined range – UOB

United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/JPY has been volatile around 157.86, with swings between 157.51 and 158.36 failing to establish a clear trend. For the coming sessions, the pair is expected to trade within 157.50–158.50 intraday, while the 1–3 week view favours consolidation in a narrower 157.00–158.70 band against a backdrop of longer-term downside momentum.